The Talking Hedge

In the high growth environment of the U.S cannabis market, an experienced team, access to capital and an ability to grow through acquisition are the three key drivers of a company’s success. Combining these skills, Ianthus is building a cannabis company to seize the opportunities this emerging industry offers. Their mission is to create the most valuable cannabis brands and network of cannabis ope...

The C3 Fund's Cannabis Index uses smart frequency trading tools that's Artificial Intelligence-based with technical analysis and predictive analytics. C3 ranks investment opportunities based on their probability of benefiting from current economic conditions, trends, events, and identifies those equities with the greatest potential for appreciation. Guest: Interview with CIO & Portfolio Manager of...

Unlike equity capital raises which are sharply lower in 2020, debt raises increased from $423M to $563M to $940M in 2018, 2019 and YTD 2020 respectively. Like M&A, debt has moved eastward. California, Colorado, Oregon, and Washington jointly made up 34.5% of 2018 debt but only 5.4% of 2020’s debt. Illinois, Massachusetts and New York accounted for 93.0% of 2020 debt issuance. The average size of i...

Once a month the Chronic Club meets up to review a cannabis product sold somewhere in Washington State. Join us as The Talking Hedge, The Aging Ent, Cannabis Legalization News, and Baked & Awake takes a dab of 100% natural Diamond Medley from GABRIEL (1g concentrate, BHO extract, 89% total cannabinoids) recommended by Nate from Kush Klub in Shoreline, WA. Last month, we rated Blunt Royal's 1g blun...

Despite a difficult 2019 followed by a pandemic in 2020, the Brightfield Group reports 912 new products launched in the first 3 quarters of 2020. We'll reveal the most successful new product launches this year. We'll look at the high-level cannabis trends then dive into the data and explore the products that won on shelves this year. Although strapped for funding, brands had to be strategic with t...

The 7 tips to a successful investment deck dives into Curatio CBD's investor deck. They specialize in potent hemp-based medicine with the strongest combination of cannabinoids, terpenes, and triglycerides delivered in a powerful nano absorption technology. Guest: Katrina Glogowski, Seattle Attorney & Angel Investor https://www.linkedin.com/in/katrina-glogowski-711a985/ Host: Josh Kincaid, Capital...

The C3 Fund's cannabis investment return is 28.08% since August 1, 2020, while outperforming MJ by 13% and POTX by 14% during the same period. Hedge funds delivered their worst performance against stock benchmarks since 2011. The average return for hedge funds this year is less than 6%, compared to 16% from the S&P 500 Index and more than 14% for the MSCI World Index. The C3 Fund's Cannabis Index...

California’s cannabis taxes during the first nine months of 2020 was $775 million, on track to exceed $1 billion for the year. All three categories surged: Excise Tax (+89%), Cultivation Tax (+80%), and Sales Tax (+67%). In Q1, cannabis tax revenues surged by $76 million year-over-year to $206 million. Cannabis tax revenues in Q3 soared by a record 80% year-over-year ($136M), to $307 million. Cali...

Here are five key metrics from Headset to provide you with a pulse check on legal cannabis markets including total sales, year over year growth, basket count, and more. Illinois spent on average $113.80 per visit, while Washington prefers to go more often, spending only $33.76 on average per visit. The market with the most brand concentration was Alberta (41%), British Columbia (43%), Nevada (33%)...

The market meltup just won't let up, with futures and global stocks reaching new record highs. Doing anything in Financial Assets at present is fraught with risk because of just how hyper-inflated stock and bond prices have become. Tesla is heading towards becoming one of the most valuable, cash rich firms on the planet, powered solely by investor belief! Tesla now has over $14 bln cash at hand. G...

Bad contracts cause disputes. Many hemp and cannabis lawsuits owe their origin to contracts that are poorly specified, unclear, incomplete, or self-contradictory. Striving to write good contracts is the first line of defense against the risk of disappointed expectations and costly litigation. Without a thorough and specific contract, disputes are common. -Hoban Law Group Show Notes: Marijuana oper...

Bad contracts cause disputes. Many hemp and cannabis lawsuits owe their origin to contracts that are poorly specified, unclear, incomplete, or self-contradictory. Striving to write good contracts is the first line of defense against the risk of disappointed expectations and costly litigation. Without a thorough and specific contract, disputes are common. -Hoban Law Group Show Notes: Marijuana oper...

Different customers shop for cannabis differently during the holidays, but there are some clear trends that were observed from last year’s holiday season that can inform retailers and operators what to expect this year. For example, during Christmas 2019 and in previous years, Edibles, Topicals, and Beverages sold more on average than the rest of the year. Interestingly, both Males and Females sho...

There are as many types of people who use cannabis as there are strains of the plant. Acreage Holdings crafts each brand to help serve the growing needs of modern consumers, offering a diverse array of both products and experiences. The Acreage Model: From seed to sale, they’re creating industry standards that deliver the highest quality products and experiences via: Cutting-edge innovation in cul...

The ongoing pandemic has caused extra stress for consumers, and despite the expense, many are not giving up their CBD during this time. However, with the closing of many retail outlet and stay-at-home orders in place, consumers turned to online outlets for CBD purchases in the first half of 2020. From Q1 to Q2, the share of CBD consumers reporting online purchasing rose to 47%. As more brands offe...

With valuations being less speculative in nature and larger and perhaps savvier investors becoming more active in this space, reparation counts. At the very least, you’ll need a finely-tuned pitch deck that anticipates their scrutiny, but behind that needs to be a company made of substance, discipline, and integrity. Show Notes: Cannabis Investors Wanted: 10 Tips For Success https://www.benzinga.c...

We look at 8 cannabis markets in North America and cover 5 key performance indicators from Headset's pulse check on the legal cannabis market including total sales, year over year growth, basket count, etc. British Colombia saw 196% YOY sales growth, while WA & OR's more mature markets only saw 24% & 38% respectively. California's 2020 YTD cannabis sales exceed $342MM, 5.5X the size of Nevada's ma...

The first online cannabis Latino investment summit. Join me for the Latino Investment Summit, an investment platform where entrepreneurs meet accredited investors exposing their companies in a shark tank style event for global sovereign wealth founds, family offices, private and institutional investors and high-level fund managers.   Each year they survey the region’s top institutional and private...

Consumers are not changing their product type preferences to a large degree. 21% of consumers now report reducing inhalable usage, while 35% of consumers indicated using more edible products, which appears to be less about harm reduction and more about variety and general usage increase. Younger consumers are the most likely of all age groups to increase their cannabis usage, with 49% of Millennia...

Coming off the dramatic decline of Canadian cannabis pubco stocks in 2019, it is little wonder that this sharp decline in fundraising and in M&A activity has characterized this year. Winners in the midst of the decline were real estate SPACs ad REITS offering sales-and-leaseback transactions as cannabis grew into a maturing industry where companies with accumulated assets could now access debt fin...

Once a month the Chronic Club meets up to review a cannabis product sold somewhere in Washington State. Join us as The Talking Hedge, The Aging Ent, Cannabis Legalization News, and Baked & Awake consume an infused "Fruitcake Dreams" blunt from Blunt Royale (sherbert dreams x cherry pie~ 1g flower + 1 gram kief, 46% THC) purchased from Dockside Cannabis in SODO Seattle, WA. Last month, we rated Gre...

Which states are likely to legalize recreational marijuana in 2021? Would-be entrepreneurs might be eyeballing the cannabis industry in markets poised to launch based on results of the Nov 3rd election and news of Mexico approving a comprehensive adult-use marijuana legalization bill. But what entry points provide the best return on investment? In terms of plant-touching businesses, there’s no har...

A Missouri-based CBD chain is pursuing unjust enrichment and defamation claims against Visa, which is accused of “terrorizing” the business. Among other claims, they said the credit card giant arbitrarily placed the business on a transaction blacklist. The suit alleges that Visa withheld $66,000 in payments, fined them $25,000, and cut off transactions involving the business after wrongly determin...

7 Tips to a successful pitch deck covers Trulieve, Florida's first Medical Marijuana dispensary. Their plants are hand-grown in a climate-controlled environment to ensure purity and safety. Trulieve strives to bring the relief needed in a trusted product. Their products were designed to alleviate seizures, severe and persistent muscle spasms, pain, nausea, loss of appetite, and other symptoms asso...

The Oregon secondary market for cannabis licenses and businesses remains lively. At some point, it seems likely that both demand and pricing metrics will settle out. Most recently, we’ve started to see buyers move along to traditional valuation metrics like EBITDA (adjusted for 280E) and adjusted cash flow. Possibly another sign the industry is maturing, but from a value perspective one might ask:...